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Spillovers and spillbacks
Acharya, Sushant; Pesenti, Paolo A. - 2024
Keynesian model. Relative to Representative Agent (RANK) models, our framework introduces a precautionary-savings channel, as … households in both countries face uninsurable income risk, and a real-income channel, as households have heterogeneous marginal … propensities to consume (MPC). While both channels amplify the size of spillovers/spillbacks, only precautionary savings can change …
Persistent link: https://www.econbiz.de/10014501129
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Uncertain potential output : implications for monetary policy
Ehrmann, Michael - 2001
Persistent link: https://www.econbiz.de/10013434349
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Non-standard central bank loss functions, skewed risks, and certainty equivalance
Al-Nowaihi, Ali - 2002
Persistent link: https://www.econbiz.de/10013434451
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Modeling model uncertainty : international seminar on macroeconomics
Onatski, Alexei - 2002
Persistent link: https://www.econbiz.de/10013434492
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International monetary policy coordination and financial market integration
Sutherland, Alan - 2002
Persistent link: https://www.econbiz.de/10013434500
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The optimal supply of central bank reserves under uncertainty
Afonso, Gara; La Spada, Gabriele; Mertens, Thomas; … - 2023 - Revised December 2023
This paper provides an analytically tractable theoretical framework to study the optimal supply of central bank reserves when the demand for reserves is uncertain and nonlinear. We fully characterize the optimal supply of central bank reserves and associated market equilibrium. We find that the...
Persistent link: https://www.econbiz.de/10014426250
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The Federal Reserve and market confidence
Boyarchenko, Nina; Haddad, Valentin; Plosser, Matthew C. - 2016
We discover a novel monetary policy shock that has a widespread impact on aggregate financial conditions. Our shock can be summarized by the response of long-horizon yields to Federal Open Market Committee (FOMC) announcements; not only is it orthogonal to changes in the near-term path of policy...
Persistent link: https://www.econbiz.de/10011446542
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Monetary policy and the run risk of loan funds
Cetorelli, Nicola; La Spada, Gabriele; Santos, João A. C. - 2022
funds are significantly more susceptible to run risk than any other category of debt funds, including corporate bond funds …
Persistent link: https://www.econbiz.de/10013162106
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Monetary policy implementation frameworks : a comparative analysis
Martin, Antoine (contributor); Monnet, Cyril (contributor) - 2008
We compare two stylized frameworks for the implementation of monetary policy. The first framework relies only on standing facilities, and the second one relies only on open market operations. We show that the Friedman rule cannot be implemented in the first framework, but can be implemented...
Persistent link: https://www.econbiz.de/10003781450
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Monetary policy analysis with potentially misspecified models
Del Negro, Marco (contributor);  … - 2008
Policy analysis with potentially misspecified dynamic stochastic general equilibrium (DSGE) models faces two challenges: estimation of parameters that are relevant for policy trade-offs and treatment of estimated deviations from the cross-equation restrictions. This paper develops and explores...
Persistent link: https://www.econbiz.de/10003781475